Competition watchdog overruled as tribunal gives ANZ-Suncorp merger go-ahead
by Australian Associated Press from World news | The Guardian on (#6JR96)
Proposed $4.9bn takeover of Queensland company's banking arm gets green light as tribunal rules that it will not lessen competition
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ANZ is celebrating a massive legal win after the consumer watchdog's rejection of its proposed $4.9bn acquisition of Suncorp's banking arm was overturned on appeal.
An August decision by the Australian Competition and Consumer Commission declining to authorise the acquisition was overturned in a landmark judgment on Tuesday.
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